Maruti Suzuki Reports 34 Percent Year-on-Year Domestic Sales Growth in September 2020
2020 Maruti Suzuki S-Cross 1.5 Petrol. (Photo: Manav Sinha/News18.com)
Maruti Suzuki India Limited posted total sales of 160,442 units in September 2020. This is a growth of 30.8% over the same period the previous year. The performance has to be seen in the context of a lower base of September 2019. Total sales include domestic sales of 150,040 units and 2,568 units for other OEMs. In addition, the Company exported 7,834 units in September 2020.
With total sales of 393,130 units in Q2 (FY2020-21) the Company registered a growth of 16.2% over the same period previous year, on a lower base. With this, the Company closed H1 i.e. April-September (FY2020-21) with total sales of 469,729 units a decline of 36.6% over H1 April-September (FY2019-20). Company’s sales performance in the first half has to be seen in conjunction with COVID-19 related disruptions.
The Indian auto industry, battered by the coronavirus lockdown has started to show signs of recovery ahead of upcoming festive season, an auspicious time when most of the buyers in the country prefer to buy a new vehicle. The recently released sales data from September reveals that the Indian car industry has registered a massive growth of 31 percent in overall sales as compared to same period last year.
A total of 2,92,894 units were sold September 2020 as compared to 2,22,809 units sold last year in September, a heathy 31 percent growth on Y-o-Y basis. Not only this, when compared to last month sales of August 2020, the industry has reported a growth of 25 percent. In August 2020, 234,142 units were sold.
This data reveals that not only is industry recovering from covid-19 setback and initial assumptions that the sales recorded in early months of post-lockdown period were just a pent-up demand created due to vacuum of two-months lockdown in April and May, but also reveals that industry is performing well as compared to the last year, one of the worst periods in the Indian auto industry when the sales went down as low 50 percent.
Almost all the manufacturers barring Toyota, Volkswagen and Nissan showed growth on Y-o-Y basis while MG and Nissan reported negative growth on M-o-M basis.